The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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Billington Holdings PLC, up 22% at 280.00 pence, 12-month range 180.00p - 308.80p. Expects adjusted pretax profit in 2022 to be ‘significantly’ ahead of the company’s previous expectations. Revenue outlook remains unchanged. Says this is due to improving trading and a strong order book. Adds this is also providing increased confidence for 2023. The construction safety specialist says it expects adjusted pretax profit in 2023 to be ‘significantly’ ahead of expectations as well. Chief Executive Mark Smith says: ‘The recovery in activity we experienced in the first half of 2022 has continued into the second half. We have been focused on implementing efficiency improvements throughout the group that are now being realised. I am therefore pleased to report that whilst revenue will be in line, I expect the group to achieve profits for the current year and for 2023 significantly ahead of the board’s previous expectations.’
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Cohort PLC, up 8.0% at 442.95 pence, 12-month range 384.00p - 580.00p. Reports a ‘much stronger’ first half, with a record closing order book. In the six months ended October 31, the technology firm posts revenue of £77.5 million, up 29% year-on-year from £60.0 million. Swings to a pretax profit of £1.1 million, from a loss of £1.7 million the previous year. Declares an interim dividend of 4.25 pence, up 10% from 3.85p the year prior. Cites higher UK Ministry of Defence sales for the increased interim revenue. Reports a record high order book of £304.2 million as of October 31. Keeps outlook for the full-year unchanged. ‘The first half has seen a welcome return to growth by the group, with our order book underpinning most of the second half of this financial year. In line with previous experience we anticipate a stronger group performance in the second half and thus remain on track to achieve our expectations for the full year,’ says Chair Nick Prest.
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AIM - LOSERS
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Trackwise Designs PLC, down 88% at 1.58 pence, 12-month range 1.58p - 159,93p. Proposes a conditional placing to raise £3.7 million through the issue of 364.5 million shares as part of a placing of 364.2 million shares and a subscription of 300,000 shares at a price of 1 pence per share. Also proposes to raise a further £1.5 million through the issue of 150 million shares in an open offer on the basis of one open offer for every 0.25 existing share at the price of 1p. Says the proceeds will allow it to start production of its new commercial order with an unnamed electric vehicle original equipment manufacturer customer. Chief Executive Philip Johnston says: ‘It is of course a matter of deep regret that we have found ourselves forced to come to the market on these terms....We look forward to commencing production at Stonehouse for our EV OEM customer, and continue to work hard to convert our IHT sales pipeline into new production contracts.’
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Mirriad Advertising PLC, down 20% at 5.50 pence, 12-month range 3.25p - 30.00p. Says revenue in 2022 is now expected to be between £1.5 million and £1.8 million, short of market expectations. In addition, expects loss before interest, tax, depreciation and amortisation of £15.5 million, in-line with market expectations. Chief Executive Stephan Beringer says that, though revenue is below expectations, there is a ‘positive direction of travel’. Adds that an increasing proportion of the company’s revenue is coming from the US, which he says is ‘encouraging’.
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